Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1887-11-18
Chicago Grain and Produce.

CHICAGO, Nov. 1.-THE battle in the pits
today seemed not to be so much between
bulls and bears as between bulls selling to
realize and make profits and bulls who
were taking the wheat, corn, and almost
everything else for a still further advance
The contrast was exciting and final results
were decidedly mixed. Tonight wheat
showed an advance of 11z924c over yester-
days close, while corn and pork have de-
clined * cents and % cents respectively.
Wheat closed not far from the highest
point Of the day, with pork and corn nearly
at the bottom. When the board opened,
the indications were that, contrary to the
usual experience, the boom which was the
feature of the closing market yesterday,
would continue today. Nearly all of the
conditions seemed to point in this direc-
ton. Gables came in strong and higher
on grains and the stock yards market for
hogs was 10 cents higher in spite Of the
tact that $4,000 hogs were received. De
cember wheat opened unchanged from
yesterday o. 1913 cents and May g cents
higher atS1%4 cents The prices were i'm
proved slightly in the first ten minutes
trading; but the disposition of the crowd
to take the profit was too strong and the
load that came on the markets drew wheat
p cent. This temporary appearance of a
break was wiped out in a few minutes A
high ball fever was ION, and there seemed
tc be no such thing as stopping it. Big
traders threw large quantities Of stuff into
the pit, but the captions nav of the mar
ket gulped il down and opened wide for
more. From 751Zc for December wheat,
there was a regular and steady bulge to
751E cents, and after that point settled back
to 1910 The advance in wheat was slim
ulated by heavy covering Oh the part Of
the common report that they had paid
something like ~ cent more fer the prop
erty than they sold it for a few days ago.
The fact that such large shorts were in,
was considered by many the weakest fea-
ture Of the market. in fact, after they
had finished buying there were further de-
clines all around and wheat dropped to
T5&5 cents, exactly the opening prices.
Others attributed the decline to the weak
corn and pork Whatever the cause was,
there was a reaction, and wheat went down
TO 165s cents for December and s2$5 cents
for May, the closing prices, being within
small fraction of the days top figures
The corn market appears to be in rather
an averted condition and if people Will be-
ieye il, is going a long way higher up, as
it certainly halted today 10 digest the ad-
vance already attained The volume of
business was as large as yesterday, and
the market was sensitive enough TO show
wide fluctuations under the influence Of u
preponderence Of buying or selling orders.
The opening was at 49, cents for Decem-
Der: 1875 cents for January, and 49, cents
for May Under realizing sales of long
corn, prices fell during the early trading
to 45L cents for December; 45i5@45% cents
for January, and 20 cents for May. There
was reaction to 45% cents for December;
&c cents for January, and 49$4 cents for
May Then began a rush to sell. There
was said to be unlimited amounts Of May
corn Tor sale at 30 cents, and when the
price came 50 near this selling figure, there
were enough who shaded a little lost at
prices on the down grade again, and they
dropped steadily until December touched
49, cents: January 4f&i cents, and May
4Sl5@4S5s cents, There was another rally
before o'clock p. m, but only afternoon
board prices went off and closed at AN
cents for December, and ASS cents for
May
The oat market had considerable attrac-
ton for traders today, and while srecula-
ton was again confined almost exclusively
to the May future, it was large, in that
heavy purchases 10y prominent dealer
stifrened the market against the weak tone
developed in corn. This evening May is at
S0s4 cents. exactly the same as twenty-four
hours ago.
Provisions were excited and an unset
tied feeling prevailed.
Receipts Of hogs were larger but prices
higher This advance, however, had no
effect on the market for manufactured
products. Corn broke and holders of pork,
corn and ribs. who have been instrumental
in advancing prices, began 70 realize, al
though there was a good miscellaneous
buying the selling proved too heavy. y
decline of DBL cents On pork. - cents on
lard and fifteen cents on short ribs was re-
corded. \ reaction followed and at l
o'clock pork was only 12,s Gll5 cents; lard
and short ribs We're 2}aG l5 cents lower than
Yesterdays last sales IN the later deal
inGS lard remained unchanged and closed
@ scents lower than at p. m, while pork
lost enough to make the decline from the
Aha 2aN- ,,F,pIrier1S ~ pprlrS for January